SharperImage

Sharper Image Hopes For A Quick Sale

A couple months ago we mentioned that high-end gadget retailer Sharper Image had filed for bankruptcy, now the company is up for sale. The retailer has said they want to be sold by the end of May and are preparing for an auction of the business as soon as possible. A Reuters article features a quote from Robert Conway, Sharper Image's chief executive which says in part that the current retail climate and the limited financing options available have prompted the sale. A potential buyer may be found in Jerry Levin, the former chairman of Sharper Image's board who recently resigned and has stated publicly that he is interested in working investors to buy the company. Like RedEnvelope, which is also up for sale, the Sharper Image has continued to keep doing business which leads me to wonder how many people are aware that the businesses they are shopping with are inches from going under.

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Tags: bankruptcy, business, expire-images2009-4-24, sharper image, SharperImage

The Sharper Image Files for Bankruptcy

by Rigel Celeste (RSS feed) —

Filed under: Gadgets

The Sharper Image, home over the years of all kinds of iconic gadgets like Razor Scooters and the Ionic Breeze air purifier line, has filed for Chapter 11 bankruptcy. They've seen net losses for the last 3 years, and earlier this week their stock plummeted all the way down to $0.41 per share.

Their downfall seems tied to the fact that they've always been so focused and dependent on the success of very limited and focused products. They're hoping to make a comeback, though, borrowing $60 million dollars and closing 60 of 183 stores nationwide.

I've always loved shopping in their stores and browsing their catalogs -- I hope they get it together and recover from this!

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Tags: bankrupt, bankruptcy, chapter 11, Chapter11, sharper image, SharperImage